Andrew Huszar that helped manage the Federal Reserve’s quantitative
easing program during 2009 and 2010 is publicly apologizing for what he
has done. He says that quantitative easing has accomplished next to
nothing for the average person on the street. Instead, he says that it
has been “the greatest backdoor Wall Street bailout of all time.” And
of course the cold, hard economic numbers support what Huszar is
saying. The percentage of working age Americans with a job has not improved at all during the quantitative easing era, and median household income has actually steadily declined
during that time frame. Meanwhile, U.S. stock prices have doubled
overall, and the stock prices of the big Wall Street banks have
tripled. So who benefits from quantitative easing?
After the first round of quantitative easing ended, Huszar says that it was incredibly obvious that Quantitative Easing had done very little to benefit average Americans but that it had been “an absolute financial windfall for Wall Street”…
The Federal Reserve was created by the Wall Street bankers for the benefit of Wall Street bankers. When the Federal Reserve serves the interests of Wall Street period, end of story. If by some miracle, one or two, middle class people benefit by getting jobs as janitors or parking lot attendants, then Wall street feels it's done its job to help middle America.
Quantitative easing has been one giant Free ride for Wall Street banks…
Having racked up hundreds of billions of dollars in opaque Fed subsidies, U.S. banks have seen their collective stock price triple since March 2009. The largest Banking cartels: 0.2% of 1 percent now control more than 70% of the U.S. bank assets.
And that number is climbing as Americans are losing their jobs at a record rate. Food stamps are at levels not seen EVER! Americans are losing their jobs their home, their insurance WHILE the corporate oligarchs are having troubles, such as finding an island to purchase, so that they can park their new mega-yachts.
All of that on the backs of the middle class. The future debt for every American is growing at an unsustainable rate. It is currently $125,000.00 and climbing fast. All, so that Wall Street can continue to rob American taxpayers and keep it all for themselves.
Billionaire hedge fund manager Stanley Druckenmiller was recently quoted as saying about quantitative easing…
“Who owns assets—the rich, the billionaires. You think Warren Buffett hates this stuff? You think I hate this stuff? I had a very good day yesterday.”
Druckenmiller, whose net worth is estimated at more than $2 billion, can't contain his joy at this insane windfall from US taxpayers!
The American people are still being told that quantitative easing is “economic stimulus” which will make the lives of average Americans better.
That is a flat out lie told by the thieves at the Federal Reserve.
The Bank of England has shown conclusively that quantitative easing actually increases the gap between the wealthy and the poor…
